EV Costs

[Gomev]

Does the cap apply to this tracker, which seems like the best of all worlds ?
Or the fact that it's a tracker presumably mean, that it could rise above the cap ?

Edit: appreciate that you've said probably best to call, but if it came up.

Cap applies to standard variable tariffs, not fixed tariffs or trackers.

 

[DuracellBunny]

I'll throw this out here to see if anyone has the time/knowledge/inclination to help. I think there was a spreadsheet on here that may help me, but couldn't see it, and there are so many variables to consider

Been lurking on here as thinking about getting an EV namely the MG5, costs have to work out though.

Appreciate there is a lot of variables, and struggling to get a handle on it.

Commute is a mix of motorway and winding country roads (60mph), including traffic and roundabouts in places, so I was guessing 3.5m/kw for the car, is that reasonable ?
Currently got an 11 year old diesel, getting around 14.5p/mile at the minute, and with a 90mile round trip to work, fuels costing me around £3100 per year for the commute.
Based on my current rate (27.84p/kwh) that works out about £1315 per year for the electricity.
So over 4 years I'd be saving £5200 in fuel on electric. (I appreciate overnight rates, but struggling to see these as you are directed to call up, but at 7.5p/kwh, which I think I've seen that brings the saving up to £10,000 over the 4 years, but I couldn't see what day electric/ gas would raise to, to complete that calc)
That sounds good, but I'll have to drop £23,000 on an MG5 (looking second hand), to get that saving, as opposed to £0 to keeping my current car. So keeping the MG for 4 years would cost me £16,000 in depreciation.
Used the MG ZS here: (MG Car Depreciation By Model Calculator) as there is no MG5.
Assumed my car current would be worthless after 4 years (WBAC -currently offering £3k)

So over 4 years MG5 would cost me £23,000. (£16Kdepreciation+£7k fuel) Current ICE £15,000 (£3k+ £12k fuel)
That possibly shrinks if I can get a handle on electricity rates, but I'd also have to consider rising electricity prices. Then you start to get in to maintenance costs especially with an 11 year old car, but still a big difference.

Trying to mitigate maintenance costs, an alternate newer ICE comparable with the MG5, would be a Fiat Tipo Estate £6k depreciation +£12k fuel, comes in at £18k over the 4 years.

Thinking at the minute, I'm best sitting tight and see if car prices drop at all, as well as seeing what electricity prices do.

If you've made it through that, well done. I appreciate that's a rather long winded complicated post, any direction or guidance, or even a point to that spreadsheet would be appreciated.

I doubt the depreciation of an EV would be that much over 4 years.
Look up salary sacrifice lease, it will cost you less that that estimated depreciation.
To keep an old ICE running over 4 years will cost you something around £2k in my experience.
Other second hand EV's are available, Hyundai Ioniq could be found for around £18k